Solvay Investor Presentation — February 2019 - Solvay

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Full Year 2018 Results FORENOTE

Following the announcement in September 2017 of plans to divest the Polyamide business, these have been reclassified as disconti nued

operations and as assets held for sale. For comparative purposes, the first quarter of the 2017 income statement has been res tated.

Besides IFRS accounts, Solvay also presents underlying Income Statement performance indicators to provide a more consistent and

comparable indication of the Group’s financial performance. The underlying performance indicators adjust IFRS figures for the non-cash

Purchase Price Allocation (PPA) accounting impacts related to acquisitions, for the coupons of perpetual hybrid bonds, classi fied as equity

under IFRS but treated as debt in the underlying statements, and for other elements that would distort the analysis of the Gr oup’s underlying

February 27, 2019 2018 Results 2 2018

February 27, 2019 2018 Results 3 February 27, 2019 2018 Results STRONG VOLUME GROWTH AND SUSTAINED MARGINS

3% higher volumes across segments

Net pricing maintained despite higher raw materials and

Higher fixed costs reflect investments to support growth

Lower financing payments on continued deleveraging

Capex discipline maintained

Working capital phasing

[1] Free cash flow after financing payments and minority interests € 725 m

to Solvay shareholders[1]

continuing operations

4 February 27, 2019 2018 Results ORGANIC EBITDA GROWTH DRIVEN BY HIGHER VOLUMES

Volume growth across main end- markets:

automotive, aerospace, healthcare

Impact from anticipated volume decrease

in smart devices, automotive diesel catalysts and insulation

Performance Chemicals

Strong performance in peroxides and favorable

market conditions in Brazil, supporting volumes and pricing.

Solid demand and improving soda ash prices

limited margin erosion Advanced Formulations

Strong volume growth in oil & gas in first

half followed by significant decline in fourth quarter

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